Category: CryptoX News

WazirX announces INR withdrawals, provides update for crypto holders

Indian cryptocurrency exchange WazirX has announced that customers will be able to withdraw their Indian Rupee balances starting from August 26. The WazirX team noted in its announcement on Aug. 23 that customers would not yet be able to access their cryptocurrency balances for withdrawal. This update follows the exchange’s halting of all withdrawals following the $230 million hack suffered in July. According to WazirX, the decision to halt withdrawals and trading was made to “mitigate impact” and to assess the next steps toward resolving the situation for its customers.…

Harris dips a toe in the crypto waters — is it enough?

Presidential candidate Kamala Harris’ team finally broke their silence on crypto. But is the cautious approach too little, too late? For months, Kamala Harris’ campaign has been notably quiet on the subject of crypto, leaving many to speculate about the Democratic candidate’s stance on the industry. However, the wait appears to be over. According to a Bloomberg report this week, during a roundtable event at the Democratic National Convention in Chicago on Wednesday, Harris’ senior campaign adviser, Brian Nelson, provided some insight into her potential policies. Nelson stated that Vice…

Clucoin Founder Pleads Guilty to Crypto Fraud, Confesses to Personal Use of Investor Funds

The founder of cryptocurrency project Clucoin has pled guilty to wire fraud, admitting to diverting $1.14 million in investor funds for personal use, including gambling. Despite promoting the cryptocurrency for charitable causes, Taylor used his social media influence to attract investments, which he then misappropriated. He faces up to 20 years in prison. Clucoin Founder […] Source CryptoX Portal

99 Arrested in Philippine Crypto Scam Hub Raid

Philippine police have arrested 99 individuals during a raid on a suspected scam hub in Parañaque City, uncovering a fraudulent cryptocurrency and romance scheme involving foreign and local workers. The company was unregistered and forced employees into compromising roles. Philippine Police Bust Crypto Scam Hub, Arrest 99 in Major Raid The National Capital Region Police […] Source CryptoX Portal

Yellow Card, Fireblocks Partner to Streamline African Cross-Border Payments

Yellow Card, a leading stablecoin platform, has partnered with Fireblocks, a digital asset infrastructure provider, to improve cross-border transactions in Africa. By leveraging Fireblocks’ technology, Yellow Card aims to provide secure and efficient on-chain solutions for businesses and individuals. This includes using Fireblocks’ Wallets-as-a-Service (WaaS) to manage and protect customer assets. This partnership addresses the […] Source CryptoX Portal

Taiwan Court Convicts 8 in Espionage Case Involving Crypto Payments

Taiwan’s high court on Thursday convicted eight people, including military personnel, of espionage for China, with payments allegedly made in cryptocurrency, the Central News Agency reported. The sentences range from 1.5 to 13 years in prison, while one individual was acquitted, and another remains at large. According to the Ministry of Justice’s Investigation Bureau, the […] Source CryptoX Portal

H1 2024 sees $630m in crypto losses, exchanges take biggest hit

Crypto losses nearly reached $630 million in the first half of 2024, with centralized exchanges hit hardest, according to Cyvers. The crypto market experienced a surge in losses, totaling over $629 million in the first half of 2024, doubling the amount from the previous year, as reported by analytical firm Cyvers. In an X post on Aug. 22, the firm highlighted that centralized exchanges were the primary targets, marking a significant shift in cyberattack focus. . https://twitter.com/CyversAlerts/status/1826603243868233899 One of the most significant incidents occurred in May when over $300 million…

FBI Recovers $5 Million From Pig Butchering Crypto Scam

Authorities in North Carolina have seized nearly $5 million in cryptocurrency linked to an investment fraud scheme. The scheme, known as “pig butchering,” involved criminals creating fake romantic relationships to deceive victims into investing in fraudulent cryptocurrency platforms. Victims lost their life savings, with one losing an entire retirement account. $5 Million in Cryptocurrency Seized […] Source CryptoX Portal

Paypal Launches PYUSD Rewards Program With Anchorage Digital

Anchorage Digital has launched its first stablecoin rewards program for Paypal USD (PYUSD) holders, offering institutions a secure way to earn rewards. Available through Anchorage Digital’s platform and the Porto self-custody wallet, the program emphasizes security by avoiding rehypothecation, staking, or lending. Anchorage Digital and Paypal Unveil Secure Rewards Program for PYUSD Holders Anchorage Digital […] Source CryptoX Portal

Only 0.0028% of Americans would qualify for the unrealized capital gains tax that had Crypto Twitter up in arms this week

Recent rumors swirling on X wrongly accused presidential candidate Kamala Harris of endorsing President Biden’s 2025 proposal for a 25% tax that includes unrealized capital gains. What’s the truth behind the headlines and what caused the confusion? Earlier this week, thousands of crypto investors found themselves caught up in a whirlwind of misinformation, with many prominent accounts reporting that U.S. presidential candidate Kamala Harris had endorsed a new tax on unrealized gains, originally proposed by President Joe Biden for 2025. Social media, especially X, buzzed with outrage as people retweeted…